Butensky & Cohen Financial Security Inc. grew its stake in Infosys Ltd (NYSE:INFY) by 88.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 218,050 shares of the technology company’s stock after buying an additional 102,110 shares during the period. Infosys makes up about 1.8% of Butensky & Cohen Financial Security Inc.’s holdings, making the stock its 10th biggest holding. Butensky & Cohen Financial Security Inc.’s holdings in Infosys were worth $2,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its holdings in shares of Infosys by 15.3% in the 1st quarter. Stifel Financial Corp now owns 142,794 shares of the technology company’s stock worth $2,548,000 after acquiring an additional 18,992 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Infosys in the 1st quarter worth approximately $1,454,000. Nomura Asset Management Co. Ltd. bought a new stake in shares of Infosys in the 1st quarter worth approximately $785,000. Allianz Asset Management GmbH lifted its holdings in shares of Infosys by 142.3% in the 1st quarter. Allianz Asset Management GmbH now owns 294,255 shares of the technology company’s stock worth $5,252,000 after acquiring an additional 172,800 shares during the last quarter. Finally, Natixis bought a new stake in shares of Infosys in the 1st quarter worth approximately $1,670,000. 8.78% of the stock is owned by institutional investors and hedge funds.
NYSE:INFY traded up $0.22 during midday trading on Friday, reaching $9.74. 508,236 shares of the stock traded hands, compared to its average volume of 11,594,516. Infosys Ltd has a 12 month low of $7.07 and a 12 month high of $10.65. The firm has a market capitalization of $44.20 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.94 and a beta of 0.41.
Infosys (NYSE:INFY) last posted its quarterly earnings results on Friday, July 13th. The technology company reported $0.27 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.02. Infosys had a net margin of 22.30% and a return on equity of 23.22%. The company had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.87 billion. Research analysts predict that Infosys Ltd will post 0.53 EPS for the current fiscal year.
A number of brokerages have recently weighed in on INFY. Morgan Stanley lowered shares of Infosys from an “overweight” rating to a “hold” rating in a report on Monday, August 20th. Deutsche Bank began coverage on shares of Infosys in a report on Thursday, July 12th. They issued a “buy” rating for the company. Cantor Fitzgerald boosted their price objective on shares of Infosys from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, July 16th. Cowen boosted their price objective on shares of Infosys from $16.00 to $17.00 and gave the stock a “market perform” rating in a report on Monday, July 16th. Finally, Zacks Investment Research lowered shares of Infosys from a “hold” rating to a “sell” rating in a report on Friday, June 15th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Infosys has an average rating of “Hold” and a consensus target price of $16.66.
Infosys Company Profile
Infosys Limited, together with its subsidiaries, provides consulting, technology, and outsourcing services in North America, Europe, India, and internationally. It provides business information technology services, including application development and maintenance, independent validation, infrastructure management, and business process management services, as well as engineering services, such as engineering and life cycle solutions; and consulting and systems integration services comprising consulting, enterprise solutions, systems integration, and advanced technologies.
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